More small- to mid-size businesses added 401(k) plans in 2012, according to a new report by Fidelity Investments.
According to the largest workplace retirement plan provider, there was a 34 percent increase in defined contribution sales, representing assets of $8.4 billion. The number of plans sold to this market, defined as $50 million in retirement assets or less, reached nearly 1,500 last year, a 36 percent jump over 2011.
In 2012, Fidelity strengthened its support for advisors by adding additional field representatives to increase local support and by building leading-edge tools that advisors can leverage to measure plan performance, such as asset allocation, participation and deferral rates.
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